Fair Lakes, VA Cost Of Living
Cost Of Living In Fair Lakes, VA Summary
Cost of living in Fair Lakes research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Fair Lakes is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Virginia, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Fair Lakes is 150, with 100 being the average.
The cost of living index in Fair Lakes is 1.5x higher than the national average.
Fair Lakes ranks as the #150 cheapest in Virginia out of 186.
Fair Lakes ranks as the #5,843 cheapest out of 6,412 in the US.
The median home value in Fair Lakes is $490,100.
The median income in Fair Lakes is $116,162.
Table Of Contents
Fair Lakes's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Fair Lakes, VA?
According to the most recent data on the cost of living, Fair Lakes has an overall cost of living index of 150, which is 1.5x higher than the national index of 100.
Compared to Virginia, Fair Lakes has a cost of living index that's 1.5x higher than Virginia's index of 102.
The standard of living in Fair Lakes ranks as #150 most affordable out of the 186 places we measured in Virginia. By definition, that implies Fair Lakes ranks as the #36 most expensive place in the Old Dominion.
For more reading on life in Fair Lakes, check out:
- Living In Fair Lakes
- Search Homes For Sale In Fair Lakes, VA
In Virginia
In America
Fair Lakes Cost Of Living Vs. Virginia
Six factors go into calculating the cost of living index in Fair Lakes. Here is how it fairs on each of the criteria:
The Services index in Fair Lakes is 114.
The Groceries index in Fair Lakes is 123.
The Health index in Fair Lakes is 95.
The Housing index in Fair Lakes is 236.
The Transportation index in Fair Lakes is 104.
The Utilities index in Fair Lakes is 96.
| Living Expense | Fair Lakes | Virginia | National Average | |
|---|---|---|---|---|
| Overall | 150 | 102 | 100 | |
| Services | 114 | 102 | 100 | |
| Groceries | 123 | 98 | 100 | |
| Health | 95 | 102 | 100 | |
| Housing | 236 | 107 | 100 | |
| Transportation | 104 | 95 | 100 | |
| Utilities | 96 | 102 | 100 | |
Fair Lakes, VA Housing Cost Breakdown
Housing swings affordability the most between places in Virginia, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Fair Lakes is $490,100.
The Median Rent in Fair Lakes is $2,020.
The Median Income in Fair Lakes is $116,162.
The Home Value To Income in Fair Lakes is 4.2x.
The Rent To Monthly Income in Fair Lakes is 0.21x.
| Statistic | Fair Lakes | Virginia | United States |
|---|---|---|---|
| Median Home Value | $490,100 | $295,500 | $244,900 |
| Median Rent | $2,020 | $1,326 | $1,163 |
| Median Income | $116,162 | $80,615 | $69,021 |
| Home Value To Income | 4.2x | 3.7x | 3.5x |
| Rent To Monthly Income | 0.21x | 0.2x | 0.2x |
Median Home Value
Median Rent
Median Income
Fair Lakes, VA Costs By Category
Detailed Fair Lakes Services Costs Vs. Virginia
| Item | Fair Lakes | Virginia |
|---|---|---|
| Shampoo | $1.0 | $1.06 |
| Movie | $13.15 | $10.68 |
| Bowling | $22.0 | $14.67 |
| Haircut | $26.08 | $18.62 |
| Beauty Salon | $63.44 | $39.05 |
Detailed Fair Lakes Groceries Costs Vs. Virginia
| Item | Fair Lakes | Virginia |
|---|---|---|
| Ground Beef | $4.79 | $4.22 |
| Fried Chicken | $1.59 | $1.39 |
| Milk | $2.61 | $2.05 |
| Potatoes | $4.46 | $3.29 |
| Pizza | $11.99 | $10.62 |
| Beer | $11.41 | $9.38 |
| Toothpaste | $3.19 | $2.34 |
Detailed Fair Lakes Health Costs Vs. Virginia
| Item | Fair Lakes | Virginia |
|---|---|---|
| Optometrist | $90.67 | $108.57 |
| Doctor | $103.89 | $116.17 |
| Dentist | $99.0 | $99.13 |
Detailed Fair Lakes Transportation Costs Vs. Virginia
| Item | Fair Lakes | Virginia |
|---|---|---|
| Gasoline | $2.3 | $2.22 |
| Tire Balancing | $52.0 | $50.07 |
Detailed Fair Lakes Utilities Costs Vs. Virginia
| Item | Fair Lakes | Virginia |
|---|---|---|
| All Electricity | $160.85 | $167.67 |
| Phone | $177.97 | $175.64 |
Fair Lakes SnackAbility
/10
Cost Of Living In Cities Around Fair Lakes
The cost of living varies in the cities and towns around Fair Lakes. Here's a quick look at the cost of living in the most populous nearby places:
Centreville, VA has a cost of living index of 137, 0.9x Fair Lakes.
Bethesda, MD has a cost of living index of 192, 1.3x Fair Lakes.
Oakton, VA has a cost of living index of 163, 1.1x Fair Lakes.
| City | Population | Cost Of Living | Vs. Fair Lakes |
|---|---|---|---|
| Centreville, VA | 73,064 | 137 | 0.9x |
| Bethesda, MD | 66,294 | 192 | 1.3x |
| Oakton, VA | 36,675 | 163 | 1.1x |
| Fair Oaks, VA | 34,437 | 147 | 1.0x |
| North Potomac, MD | 24,449 | 167 | 1.1x |
| Fairfax, VA | 23,980 | 147 | 1.0x |
| Chantilly, VA | 23,564 | 148 | 1.0x |
| Franklin Farm, VA | 18,906 | 167 | 1.1x |
| Fairfax Station, VA | 12,322 | 174 | 1.2x |
| Lowes Island, VA | 11,272 | 163 | 1.1x |
